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Rusoro Mining Ltd V.RML

Alternate Symbol(s):  RMLFF

Rusoro Mining Ltd. is a Canada-based company, which is engaged in the operation, acquisition, exploration and development of gold mining and mineral properties. The Company is a gold producer and explorer, with a land position in the prolific Bolivar State mining region in southern Venezuela. It has gold reserves of approximately 5,584,000 ounces and inferred resources of over 6,805,000 ounces. The Company has two mines in production and ten exploration projects (including development and exploration around the mines) which range from early stage to advanced/development stage gold projects in Venezuela. The Company owns and operates the Choco Mill Facility and has a 95% ownership in the Choco 10 Mine. It holds a 50% ownership interest in the Isidora mine (the Isidora Mine). Its subsidiaries include Proyectos Mineros del Sur, PROMINSUR, C.A., Promotora Minera de Guayana, P.M.G., S.A., Corporacion Aurifera de El Callo, C.A., Corporacion Minera Choco 9 C.A., and Corporacion 80.000 C.A.


TSXV:RML - Post by User

Comment by SilverSamon Jul 10, 2023 12:43pm
181 Views
Post# 35533758

RE:RE:you better

RE:RE:you betterRML press release of April 11, 2023:

"In issuing the writ, the court found that Rusoro had proven that PDVSA is the corporate "alter ego" of 
Venezuela , and that Rusoro's arbitration award, which including interest exceeds $1.7 billion...."

Crystallex claim, with interest, likely equals or exceeds this amount.  So excluding the other corporations involved, whose claims are substantial, we have already blown past 3 billion.  RML is behind at least some of these, so we can easily do the  math and see that what is left for distribution for RML might be a lot less than shareholders are anticipating.
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